Invensense Acquisition by TDK Complete

0
205

TDK Corporation (TSE: 6762) and InvenSense, Inc. announced on May 18, 2017, that TDK had completed the acquisition of InvenSense for approximately $1.3 billion. TDK paid $13.00 in cash per share of InvenSense. The acquisition of InvenSense will allow TDK to significantly expand its technology portfolio and sensory product offerings. This move is part of TDK’s growth strategy and reflects the company’s focus on the automotive, industrial equipment and energy, and information and communications technology markets. Shigenao Ishiguro, President and CEO at TDK, stated, “We are delighted to welcome InvenSense into the TDK Group. By merging TDK’s strengths in magnetic sensor technologies, the extensive portfolio of sensor products from TDK Group’s EPCOS, TDK-Micronas and Tronics with InvenSense’s leading sensor and software platforms, we will be able to bolster TDK’s sensor business, one of our strategic growth areas. We aim to become a global leader in the sensor business, which will be a key component of the future growth of TDK.” Qatalyst Group served as financial adviser to InvenSense with Bank of America Merrill Lynch acting as financial adviser to TDK.

LEAVE A REPLY

Please enter your comment!
Please enter your name here